Welcome to our dedicated page for Cps Technologie news (Ticker: CPSH), a resource for investors and traders seeking the latest updates and insights on Cps Technologie stock.
CPS Technologies Corp. (NASDAQ: CPSH) is a manufacturing and technology company focused on high-performance material solutions and energy management components for demanding applications. This news page aggregates company announcements, earnings releases, contract wins, and research awards so readers can follow how CPS executes on its strategy in transportation, energy, aerospace, and defense markets.
Recent press releases describe record quarterly revenue, improved profitability, and strong demand for CPS’s core product lines. The company has reported contracts such as a multi-million dollar agreement with a longstanding, multinational semiconductor manufacturer for advanced power module components used in high-speed rail and energy and grid infrastructure. CPS also discloses public offerings of common stock under a shelf registration statement, with stated uses of proceeds that include working capital, capital expenditures, and expansion of production capacity through a move to a larger facility.
In addition to commercial contracts, CPS regularly announces government-funded research programs, including SBIR and STTR awards from U.S. agencies. These cover areas such as impact limiters for transporting spent nuclear fuel and high-level radioactive waste, weight reduction for the Amphibious Combat Vehicle, and development of a controlled fragmentation tungsten warhead using the company’s proprietary injection molding process.
Investors and observers can use this CPSH news feed to review official communications on financial results, capital markets activity, new contracts, and research initiatives. Each item reflects information the company has chosen to disclose publicly, including its perspective on demand trends, operational performance, and the evolution of its high-performance materials portfolio.
CPS Technologies (NASDAQ:CPSH) has secured two significant developments: a new Phase I SBIR contract from the U.S. Army and its first commercial order for radiation shielding materials. The Army contract, valued at $250,000 over six months, focuses on optimizing binder jet additive manufacturing for dense refractory tungsten alloys, potentially replacing depleted uranium in military munitions. Texas A&M University will serve as a subcontractor for printing trials.
Additionally, CPS received its first commercial purchase order (under $100,000) for radiation shielding materials development. While modest in size, successful testing could lead to larger follow-on orders. The company expects to fulfill this order in 2025, building on their ongoing Phase II development effort with Department of Energy SBIR funding.
CPS Technologies (NASDAQ:CPSH) has secured two significant developments: First, a new Phase I Small Business Innovative Research (SBIR) contract from the U.S. Army valued at $250,000 for a six-month research project. The project focuses on developing ultra-light, strong ceramic materials for electromagnetic protection in artillery shells.
Second, the company has revised its previously announced 12-month supply agreement with a longstanding customer. The contract value has increased from $12 million to $13.3 million, covering October 2024 through September 2025. The revision includes mutually agreed changes to volumes and pricing.
Additionally, Mechanical Engineer Marinos Blanas becomes the fourth CPS researcher to secure SBIR funding in recent years.
CPS Technologies (NASDAQ:CPSH) has appointed I. James Cavoli to its Board of Directors. Cavoli currently serves as president of Swagelok Company, where he grew the company's market cap by 75% during his tenure. He previously held positions as chief operating officer and vice president at Swagelok, and has extensive experience including roles at Ford Motor Company, Progressive Insurance, and service as a U.S. Army captain.
Cavoli brings expertise in strategy, transformation, growth, and international business, with functional experience in operations, finance, and marketing. Chairman Frank Hughes highlighted that attracting someone of Cavoli's caliber demonstrates CPS's culture of innovation and future growth potential.
CPS Technologies Corp (NASDAQ:CPSH) has announced its participation in the upcoming Investor Summit Microcap Virtual Conference on November 21, 2024. The company will deliver a presentation from 4:00pm to 4:30pm ET and will be available for one-on-one meetings throughout the day.
CPS is a technology and manufacturing leader specializing in high-performance materials solutions. Their products serve critical needs in various applications including electric trains, wind turbines, electric vehicles, Navy ships, 5G infrastructure, and more. The company's portfolio includes hermetic packages for aerospace applications and lightweight armor products offering superior ballistic protection.
CPS Technologies (NASDAQ:CPSH) has secured a $12 million contract from a major multinational semiconductor customer for power module components. The components will be used in high-speed rail, wind turbines, and EV/HEV applications. Deliveries are scheduled over twelve months starting October 2024, representing a significant volume increase compared to the previous four quarters. The agreement, while cancelable by either party, allows for ongoing discussions about future volume and pricing requirements while meeting current production needs.
CPS Technologies (NASDAQ:CPSH) reported Q3 2024 financial results with revenue of $4.2 million, down from $6.3 million in Q3 2023. The company posted a gross margin of -12% compared to 20% in the prior year, and an operating loss of $1.5 million versus a $0.1 million profit. The decline was primarily due to the end of the HybridTech Armor® contract and reduced manufacturing efficiencies. However, CPS secured new contracts including a $12 million award from a semiconductor customer and a $1.1 million Phase II contract from the U.S. Department of Energy. The company expects improved performance in Q4 2024 with its new third shift operations and a book-to-bill ratio of 1.22.
CPS Technologies Corp (Nasdaq:CPSH) has announced its third quarter 2024 investor conference call, scheduled for Thursday October 31, 2024 at 9:00 A.M. (Eastern). Brian Mackey, President and CEO, and Chuck Griffith, Chief Financial Officer, will discuss the company's financial results for the quarter ended September 28, 2024.
CPS is a technology and manufacturing leader specializing in high-performance energy management components for the electrification economy. Their product portfolio includes critical components for electric trains, subway cars, wind turbines, hybrid and electric vehicles, smart electric grid, and 5G infrastructure. The company also produces hermetic packages for Aerospace and Satellite applications, as well as lightweight armor products offering exceptional ballistic protection.
CPS Technologies (NASDAQ:CPSH) has been awarded a $1.1 million Phase II SBIR contract from the U.S. Department of Energy. The 24-month project focuses on developing 'Modular Radiation Shielding for Transportation and Use of Microreactors'. This is CPS's second Phase II SBIR award in 2024, bringing their total SBIR funding to over $3 million in recent years.
The project, led by materials scientist Matthew Karnick, builds on the successful Phase I results, where CPS developed lightweight, modular shielding effective against gamma and neutron radiation. Phase II aims to optimize materials and scale manufacturing processes for commercialization. CPS filed a provisional patent in July 2024 for novel designs developed during Phase I.
CPS Technologies (NASDAQ:CPSH) reported financial results for Q2 2024 ended June 29, 2024. Key highlights include:
- Revenue decreased to $5.0 million from $7.4 million in Q2 2023, due to the completion of the HybridTech Armor® contract with Kinetic Protection for the US Navy.
- Gross margin declined to (4.6)% from 29.6% in Q2 2023, reflecting lower manufacturing efficiencies and fixed costs impact on reduced revenue.
- Operating loss of $1.3 million compared to an operating profit of $0.7 million in Q2 2023.
- Net loss of $1.0 million, or $(0.07) per diluted share, versus net income of $0.6 million, or $0.04 per diluted share, in Q2 2023.
The company secured a new SBIR Phase II contract valued at over $1 million from the U.S. Navy Air Systems Command for developing metal matrix composites for thermal energy storage applications.
CPS Technologies Corp. (Nasdaq:CPSH) has announced its second quarter 2024 investor conference call, scheduled for Thursday, August 1, 2024, at 9:00 A.M. (Eastern). Brian Mackey, President and CEO, and Chuck Griffith, CFO, will discuss the company's financial results for the quarter ended June 29, 2024.
CPS is a leader in producing high-performance energy management components for various applications, including electric trains, wind turbines, electric vehicles, and 5G infrastructure. The company also manufactures hermetic packages for aerospace and satellite applications, as well as lightweight armor products.
Interested participants can join the conference call by dialing 1-844-943-2942 with the passcode 467630. For investor relations inquiries, contact Chris Witty at 646-438-9385 or cwitty@darrowir.com.